It’s hard to believe

It’s really hard to believe that just four months ago so many investors –including yours truly – were on the verge of slashing their wrists.  The financial system was on the verge of collapse, the credit markets were frozen, and the stock market was tanking.  For those who had the stomach to ride this tempest out their holding should look a lot better today.. The strong stock market of April seems to have followed through into May and from some of the folks I have spoken with in the past few days this market is heading sharply higher.  Now, these are folks who I truly respect, but I still have a hard time coming to a very bullish conclusion with oil prices at current levels.  Unless the price of oil and consequently gasoline decline real soon I think the economy will become very weakened.  Under that scenario I believe the stock market may have a rough summer. 

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